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FMG - Fortescue Ltd

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I am out, I just need to rationalise and buy shares that pay good dividends. It has been a great ride, and I am way ahead accept for the last little patch. Of course the SP will start to rise again now. :
 
Prospector said:
I am out, I just need to rationalise and buy shares that pay good dividends. It has been a great ride, and I am way ahead accept for the last little patch. Of course the SP will start to rise again now. :
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your out - u do realize you may well have sold at the bottom? too late to sell now if u been holding

but do agree with the dividend part..
 
agro said:
someone wanting to sell 1 million FMGs at 4.20

wonder who that is? retail, insto or other?

be interesting to see if they pull

is this manipulation maybe?
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split between 15 or so people...who knows, i got in at 3.90's, too good to resist...or is it? time will tell, but i expect a positive day tomorrow in light of the recovery on the US last nite and ASX today
 
agro said:
your out - u do realize you may well have sold at the bottom? too late to sell now if u been holding

but do agree with the dividend part..
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Bloody hell. Just LOL.

Whats the cost of loving something the market plainly hates.

Whats the cost of the worry and stress. No wonder people get depressed over this game when they are so illogical. Well done prospector.
 
agro said:
your out - u do realize you may well have sold at the bottom? too late to sell now if u been holding

but do agree with the dividend part..
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I hear ya Agro, but I have been saying 'this is the bottom' for a few $$$ now! I just reached me limit!
 
that million got taken out btw

smashed - wonder who bought it

look at intra day chart..


i know someone is stalking FMG - its a good company
 
agro said:
your out - u do realize you may well have sold at the bottom? too late to sell now if u been holding

but do agree with the dividend part..
Click to expand...

Geez this forum can be a good psychology lesson. I can't believe those that continue to call the bottom. Started about $9. I'm with Prospector...well done. Sure supporters will call told you so as it bounces for a few days on rate drop but give this a month I am confident this will be lower than $3.50. research shows iron ore prices coming off, lower demand from China for both internal steel and exports. A good company...maybe, good reserves....yes but we should all know this does not determine SP. I was out at $9 and made a nice profit. Not calling my expertise rather lots or research of global economy and a bit of luck. I see more downside. Only time will tell but I suspect you could make a lot more on betting which way the price will go than on actually holding!
 

why do you see more downside when quiet clearly, the DOW jones was as much as 800 points down last night and rallied to finish only 300 odd down?

also, FMG (unlike BHP/RIO) are closely tied with the chinese - they even have an advisory board set up in China

read today's AFR - BHP/RIO (think Vale too) are boycotting a chinese steel conference but FMG reps will be there..

who are the Chinese going to buy off in the end?

+ FMG has contacts for the next 12 years or so

Good Luck either way
 

argo-i am in the same boat as u and i am out-

but i have noticed that even i was was comparing bhp/rio vs fmg- i do feel i was wrong because the other 2 vs fmg have nothing in common apart from iron ore etc etc

how wrong i was to also say that we wont see under $10.00

but lets have a look at it we come from a high of $13.00 to what $4.00 something-

i will say we might as well go down as we come this far-heck i dont want it to go down buts lets have a look at the current price-

the current price is the story and its not a good story at the moment

i do like fmg as its taught me how to trade and read young miners-

its like a fresh business-it does worse then the ones that have been around a while to some degree-

i have to agree its got huge/huge potential but not yet-things are going to quick

ramp up's-they want or need more money etc etc-slow down is what i feel

looking to get back on board-not on the bottom and not on the high but when this storm goes away-

hell knows when that will be-but it will come-

Thanks

Nick--
 
FMG to me is in a downward trend, however i think there will be some upward movement over next day or two or three...

Im trying to get out at 5.80ish if im lucky.
 

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Yeah Nick this has been a huge ride and well worth the experience.

I'm going to hold this just to see what happens and ride out the storm.
Hopeful that with the US bailout and interest rate cut it will restore some interest.

I don't need to cash any of these shares for another 12mth +.
 


Agro,
"Australian shares are expected to open sharply lower as investors shrug off the rate cut by the Reserve Bank, after the Dow Jones Industrial Average capped the biggest five-day point loss ever on Wall Street.

The Dow Jones sank 508.39 points, or 5.11%, to end unofficially at 9447.11, losing more than 1400 points or 13% over the past five sessions."

The reason I see downside on FMG has little to do the company rather global economies. Market looks to take another down today. My research is tending to show this as at least a 4 year trend in massive bear. I would say if you're in profit very difficult to keep holding this. If your at a loss well....this is where learning a lesson might be the best you do. Doesn't help with you have nuts like Cramer on CNN saying sell everything now...

Are these great buying opportunities? I doubt it but would rather be out than in. Tough times ahead for traders but some good day trade opportunities on small bounces if you have the kahunas!
 
Oh and good luck getting out at $5.80 in the next few days. One of the most valuable things I have learnt is to set a stop loss and stick to it like mud. No point in holding on a loss. Opportunity cost is where all losses are realised.
 
BrownHornet said:
Oh and good luck getting out at $5.80 in the next few days. One of the most valuable things I have learnt is to set a stop loss and stick to it like mud. No point in holding on a loss. Opportunity cost is where all losses are realised.
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stop loss is $3.80 in at $3.95... dont worry its all good


..........................................
 
white_goodman said:
stop loss is $3.80 in at $3.95... dont worry its all good


..........................................
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ha! even with averaging down, my average buy price is $8.62! Down 55%!

Bought some IPL last Monday, AND THIS TIME USED A STOP LOSS (20%). Didnt take long for it to get there!
 
gav said:
ha! even with averaging down, my average buy price is $8.62! Down 55%!

Bought some IPL last Monday, AND THIS TIME USED A STOP LOSS (20%). Didnt take long for it to get there!
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gav-u are down in fmg 55%?

u wish you sold?

or u not to worried as this is a long term project

just asking on how some people are having a look at stocks this much down

Thanks

Nick--
 
Thats correct, 55% down in FMG. Originally in this for the medium-long term, and did not set a stop loss. But now I just dont know...

Trying to learn from my mistakes, I set a stop loss for IPL. I get stopped out in less than 1 week. Today, IPL is in the green and well above where I sold it.

It seems the more I learn, the worse off I am
 

I dont actually believe in adhering to stop losses I have never used them. I would rather make a judgement call at the time rather than a mathematical response at a different point in time.
 
Prospector said:
I dont actually believe in adhering to stop losses I have never used them. I would rather make a judgement call at the time rather than a mathematical response at a different point in time.
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i dont understand-u dont use a stop loss-

i understand we need to make jusdgements but take the stop loss out of it and i feel we are left with judgements vs the current price-

to me i get my judgement from looking at the current price-

i mean its a numbers game or do u see it in a other format?

Thanks

Nick--
 


Gav,

Not much to say (it won't get your $$$ back), but these are times for learning. That said (some things to think about)...

1. William O'Neil suggests a stop at 4% (from memory)

2. Recall journo at Courier Mail told readers to have stop at 10%

3. Other "educators" put stops at 4, 6 or 8%

4. Alternative is to use some sort of pivot as stop loss so that you don't lose too much of capital.

Need to work out whether you are in this for the long(er) term or (buys) are a short-term trade. Seems you are caught between the two? (To do this, you also need to know why you bought the shares in the first place.)

Tim
 
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